Peter Morrison on Class Action

Inside the Courts – An Update From Skadden Securities Litigators - February 2024

Securities Class Actions Show No Signs of Slowing in 2024 - Key Points - While the volume of securities class actions filings has remained consistently elevated over the past several years, the composition of the class...more

3/5/2024 / Class Action , Corporate Governance , Digital Assets , Educational Institutions , Energy Sector , Entertainment Industry , Financial Services Industry , Healthcare , Life Sciences , Macquarie Infrastructure Corp v Moab Partners LP , Media , Publicly-Traded Companies , Retailers , SCOTUS , Securities and Exchange Commission (SEC) , Securities Exchange Act , Securities Litigation , Securities Regulation

Inside the Courts – An Update From Skadden Securities Litigators - May 2023

Supreme Court Hears Argument on Traceability Requirement in Circuit-Split Slack v. Pirani - Key Points - - Before the end of June, the U.S. Supreme Court is expected to issue a decision in a high-profile securities case...more

Inside the Courts – An Update From Skadden Securities Litigators - March 2023

Circuits Split Over Whether Targeting Is Necessary for Seller Liability - Key Points - - While courts have long held that solicitations must be tailored to a particular audience to precipitate statutory seller liability,...more

Rise in Crypto Securities Filings Could Persist

Increased regulatory oversight and recent turmoil in the digital asset market have led to a rising number of securities litigations focusing on cryptocurrencies. Sixteen cryptocurrency-related class actions have been filed...more

12/19/2022 / Class Action , Cryptoassets , Cryptocurrency , Digital Assets , Enforcement , Regulatory Oversight , Securities , Securities and Exchange Commission (SEC) , Securities Litigation

Inside the Courts – An Update From Skadden Securities Litigators - December 2022

Cornerstone Research reports that during the first six months of 2022, plaintiffs filed 110 securities class actions, a pace that is generally in line — 2.8% higher — with what we saw in the second half of 2021. Looking...more

12/5/2022 / Class Action , Coronavirus/COVID-19 , Corporate Counsel , Corporate Sales Transactions , Cybersecurity , Enforcement Actions , FinTech , Futures , Healthcare , Initial Public Offering (IPO) , Life Sciences , Popular , Securities and Exchange Commission (SEC) , Securities Fraud , Securities Litigation , Stock Options

Inside the Courts – An Update From Skadden Securities Litigators - March 2022

Class Certification - Central District of California Denies Class Certification in Securities Fraud Action Concerning Company’s Purchase of ADRs - Stoyas v. Toshiba Corp., No. 2:15-cv-04194 (C.D. Cal. Jan. 7, 2022) -...more

3/2/2022 / Class Action , Class Certification , Delaware General Corporation Law , Derivative Suit , Enforcement Actions , Forum Selection , Loss Causation , Pleading Standards , Scienter , Securities Exchange Act , Securities Fraud , Securities Litigation , Special Purpose Acquisition Companies (SPACs) , Standing

Supreme Court Clarifies Basic Presumption Burden and Holds Courts Should Consider All Price Impact Evidence

On June 21, 2021, the U.S. Supreme Court held in Goldman Sachs Group Inc. v. Arkansas Teacher Retirement System, No. 20-222 (2021), that courts may consider at the class certification stage the generic nature of alleged...more

6/22/2021 / Arkansas Teacher Retirement System v Goldman Sachs Group , Basic v Levinson , Burden of Persuasion , Burden of Proof , Class Action , Class Certification , Conflicts of Interest , Goldman Sachs , Investors , Presumption of Reliance , SCOTUS , Securities Exchange Act , Securities Litigation , Shareholders

Securities Litigation and Regulatory Enforcement Update

On December 8, 2020, Skadden held the fourth and final installment of its annual Securities Litigation and Regulatory Enforcement Update, “Developments and Trends in Securities Litigation: A Year-End Update for 2020 and a...more

2/22/2021 / Class Action , Class Certification , Employee Retirement Income Security Act (ERISA) , FDA Approval , Popular , PSLRA , Scienter , Securities Fraud , Securities Litigation , Special Purpose Acquisition Companies (SPACs) , Stock Drop Litigation

Inside the Courts – An Update From Skadden Securities Litigators

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between July and October 2020. Class Certification - Cryptocurrency – Definition of a Security - Derivative...more

Within Three Months, a Second California State Court Enforces a Federal Forum Charter Provision for Securities Act Claims

A California state court dismissed a putative securities fraud class action against Uber, as well as certain individuals and underwriters, on the grounds of inconvenient forum, holding that the federal forum selection...more

11/30/2020 / Choice-of-Law , Class Action , Dismissals , Forum Selection , Jurisdiction , Securities Act of 1933 , Securities Fraud , Securities Litigation , Securities Violations , State Law Claims , Uber

Ninth Circuit Finds That Information Obtained Through FOIA Requests May Constitute Corrective Disclosure

On November 3, 2020, in the second decision addressing the standards for pleading loss causation under the Securities Exchange Act of 1934 in the last month, the Ninth Circuit reversed in part the dismissal of a securities...more

11/9/2020 / Class Action , FOIA , Investors , Loss Causation , Money Laundering , Public Disclosure , Securities and Exchange Commission (SEC) , Securities Fraud

Inside the Courts – An Update From Skadden Securities Litigators - September 2019

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between May and August 2019....more

District Court Applies Lorenzo in Securities Class Action Alleging Fraudulent Scheme

In one of the first decisions to interpret and apply the U.S. Supreme Court's recent decision in Lorenzo v. Securities and Exchange Commission, on April 11, 2019, the U.S. District Court for the Southern District of New York...more

4/20/2019 / Civil Liability , Class Action , Failure To Disclose , False Statements , Lorenzo v SEC , Motion to Dismiss , Nasdaq , Public Offerings , Registration Requirement , Rule 10(b) , Rule 10b-5 , Securities Act of 1933 , Securities Fraud , Securities Violations , Underwriting

Inside the Courts – An Update From Skadden Securities Litigators - March 2019

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between December 2018 and February 2019....more

Inside the Courts – An Update From Skadden Securities Litigators - June 2018

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between February 2018 and May 2018. ...more

Inside the Courts – An Update From Skadden Securities Litigators - March 2018/ Volume 10 / Issue 1

This quarter's issue includes summaries and associated court opinions of selected cases principally decided between November 2017 and January 2018. The cases address developing trends in appraisal, class certification, core...more

3/27/2018 / Acquisitions , Appraisal , Books & Records , Breach of Duty , Business Judgment Rule , Buyouts , CEOs , Claim Preclusion , Class Action , Class Certification , Controlling Stockholders , Core Operations Doctrine , Corwin Doctrine , DE Supreme Court , Delaware General Corporation Law , Dell , Demand Futility , Derivative Suit , Director Compensation , Entire Fairness Standard , Federal Trade Commission (FTC) , Fiduciary Duty , Fraud-on-the-Market , FRCP 9(b) , High-Speed Trading , Loss Causation , Material Misrepresentation , Mergers , Motion to Amend , Petrobras , Pharmaceutical Industry , Pleading Standards , Preponderance of the Evidence , Presumption of Reliance , Proximate Cause , PSLRA , Ratification , Rebuttable Presumptions , Rule 10(b) , Rule 10b-5 , Scienter , Section 220 Request , Securities Exchange Act , Securities Fraud , Securities Litigation , SRO , Stock Drop Litigation

Inside the Courts – An Update From Skadden Securities - June 2017

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between February 2017 and April 2017. The cases address developing trends in class actions, ERISA, fiduciary duties,...more

"Key Takeaways: Lessons Learned From Tax-Related Whistleblower Litigation and Shareholder Actions"

On March 8, 2017, Skadden hosted a webinar titled “Lessons Learned From Tax-Related Whistleblower Litigation and Shareholder Actions.” The Skadden panelists were tax partners Nathaniel Carden and Armando Gomez, and litigation...more

Inside the Courts: An Update From Skadden Securities Litigators - November 2015 / Volume 7 / Issue 4

We are pleased to present Inside the Courts (Volume 7, Issue 4), Skadden’s securities litigation newsletter. This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between...more

11/19/2015 / Auction , Breach of Duty , Class Action , Employee Retirement Income Security Act (ERISA) , Fiduciary Duty , Fraud-on-the-Market , Market Manipulation , Misrepresentation , Pleading Standards , Scienter , Securities Fraud , Securities Litigation , Standing , Statute of Limitations , Statute of Repose , Venue , Whistleblower Protection Policies

Inside the Courts: An Update From Skadden Securities Litigators - September 2015 / Volume 7 / Issue 3

This issue of Inside the Courts, Skadden’s securities litigation newsletter, includes summaries and associated court opinions of selected cases principally decided between May 2015 and August 2015. The cases address...more

Inside the Courts - An Update From Skadden Securities Litigators - May 2015 / Volume 7 / Issue 2

In This Issue: - U.S. Supreme Court: ..Omnicare, Inc. v. Laborers Dist. Council Constr. Indus. Pension Fund, 135 S. Ct. 1318 (4th Cir. Mar. 16, 2015) - Auditor Liability: ..In re Advanced Battery Techs.,...more

6/2/2015 / Auditors , Books & Records , CAFA , Class Action , Class Certification , Derivative Suit , Fiduciary Duty , Justifiable Reliance , Misrepresentation , Omissions , Pleading Standards , Scienter , SCOTUS , Securities Fraud , Settlement , Statute of Limitations , Statute of Repose , Whistleblowers

Inside The Courts - November 2014 | Volume 6 | Issue 4

In This Issue: CLASS CERTIFICATION: Fort Worth Emps. Ret. Fund v. J.P. Morgan Chase & Co., No. 09-cv-3701 (JPO) (S.D.N.Y. Sept. 30, 2014) Discovery: ..Freedman v. Weatherford Int’l Ltd., No. 12...more

11/19/2014 / Books & Records , Class Action , Class Certification , Fiduciary Duty , Investment Company Act of 1940 , JPMorgan Chase , Loss Causation , Omnicare , Scienter , Securities Act of 1933 , Securities Exchange Act , Standing , Statute of Limitations , Statute of Repose , Zillow

Inside The Courts - September 2014 | Volume 6 | Issue 3

In This Issue: - CLASS CERTIFICATION: ..Goodman v. Genworth Fin. Wealth Mgmt. Inc., No. 09-CV-5603, 2014 WL 1452048 (JFB) (GRB) (E.D.N.Y. Apr. 15, 2014) - DEMAND FUTILITY: ..Rosenbloom v. Pyott,...more

9/18/2014 / Bylaws , Class Action , Class Certification , Employee Retirement Income Security Act (ERISA) , Enforcement Actions , Expert Witness , Fiduciary Duty , Loss Causation , Retailers , Securities and Exchange Commission (SEC) , Securities Exchange Act , Wal-Mart

"Supreme Court Allows Rebuttal of Fraud on the Market at Class Certification Stage in Halliburton Co. v. Erica P. John Fund"

The Supreme Court of the United States today in Halliburton Co. v. Erica P. John Fund upheld the fraud-on-the-market presumption of reliance first recognized by the Court in Basic v. Levinson, but gave defendants a new tool...more

6/23/2014 / Basic v Levinson , Board of Directors , Class Action , D&O Insurance , Fraud , Fraud-on-the-Market , Halliburton , Halliburton v Erica P. John Fund , SCOTUS , Securities Fraud

Inside The Courts - May 2014 | Volume 6 | Issue 2

In This Issue: - AUDITOR LIABILITY: ..Athale v. Sinotech Energy Ltd., No. 11 Civ. 05831(AJN) (S.D.N.Y. Feb. 21, 2014) - BYLAWS: ..ATP Tour, Inc. v. Deutscher Tennis Bund (German Tennis...more

5/30/2014 / Appeals , Auditors , Bylaws , Class Action , Class Certification , Enforcement , Enforcement Actions , Fee-Shifting , Fiduciary Duty , Financial Industry Regulatory Authority (FINRA) , Foreign Corporations , Insider Trading , Professional Liability , Sarbanes-Oxley , Scienter , Securities and Exchange Commission (SEC) , Securities Exchange Act

Peter Morrison

Skadden, Arps, Slate, Meagher & Flom LLP

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